Families need £36k just to break even as debts rise

Families need £36k just to break even as debts rise

DEBTS: Bills for the average family are mounting [GETTY: Pic posed by models]

“There has been no respite for British ­families”

Skipton MD Andrew Barker

The shocking figures reveal that the typical UK household is paying £2,571.69 more for basics such as mortgages or rent, utilities, food, insurance, loans and ­motoring costs.

The biggest outlay is the food shop, which totals £5,077.28 a year – a rise of 13% over the last 12 months. Payments for mortgages and rent are the second highest at £4,723.92 annually, up £400 this year.

The study, by Skipton Financial Services, surveyed 2,000 adults with at least two ­children living at home and also found that ­petrol expenses crept up by 11% to £2,964.52.

COSTLY: Family living is getting more and more expensive [GETTY: Pic posed by models]

In addition, the average family paid off loans to the tune of £3,313.68.

Skipton MD Andrew Barker said: “There has been no respite for British ­families. A basic taxpayer would actually have to earn over £36,000 to break even.

“And it seems there is no end to the ­misery for UK families, with two-thirds expecting to pay even more on bills next year.”